Texts: On 1/1/22, P issued $500,000 of 8% bonds for $438,534, a 10% yield. Interest is payable January 1 of each year. S uses the effective interest method. On 12/31/22, S purchased $350,000 of the outstanding P bonds for 98 plus accrued interest. The 12/31/22 elimination entry will include a a) loss on retirement of bonds of $61,329. b) gain on retirement of bonds of $10,000. c) loss on retirement of bonds of $33,329. d) gain on retirement of bonds of $33,329. With reference to question #5, the 12/31/22 elimination entry will include a credit to interco. discount for a) $61,466 b) $40,329 c) $57,613 d) $17,284